Apple iPhone 5 faster, thinner, goes on sale Sept. 21

The new Apple iPhone 5 is displayed Wednesday, Sept. 12, 2012, following the introduction of new products in San Francisco. The iPhone 5 is a blend of beauty, utility and versatility. (AP Photo/Eric Risberg)

The new Apple iPhone 5 is displayed Wednesday, Sept. 12, 2012, following the introduction of new products in San Francisco. The iPhone 5 is a blend of beauty, utility and versatility. (AP Photo/Eric Risberg)

Are you going to buy Apple's iPhone 5?

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— Apple on Wednesday unveiled a thinner, taller, faster iPhone 5 at a highly anticipated event in San Francisco.

The device, which is 18 percent thinner and 20 percent lighter than the iPhone 4S, is the thinnest smartphone in the world, according to Apple. With a four-inch screen, the iPhone 5 allows for five rows of apps - one more than previous versions of the device, which sported a 3.5-inch screen.

Apple said the iPhone 5's processor speed is twice as fast as the previous version, an advance made possible by the company's new "A6" chip.

The iPhone 5 will go on sale on Sept. 21, starting at $199 for the 16-gigabyte version with a new two-year contract. Larger 32 GB and 64 GB versions will cost $299 and $399, respectively. Apple will begin taking pre-orders Friday.

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